PotCoin is targeting the legal recreational and medical marijuana
industry while DopeCoin is unconcerned with legality.

Both currencies have their pseudonymous creators, just like
Bitcoin's "Satoshi Nakamoto." "Mrjones" and "smokeman," creators
of PotCoin, imagine their currency being used not only in the
U.S., but also from Vancouver to Amsterdam, wherever money can
legally be exchanged for weed.

They launched the currency earlier this year on January 21 at
4:20 p.m., but no retailers have committed to using it yet. They
are undeterred — smokeman said "our inbox is jammed with point of
sale inquiries from merchants along with some of the kindest,
heartfelt letters of encouragement and thanks."

"Dopey," the person behind DopeCoin, said that currency will be
used anywhere from underground drug markets like Silk Road to
more legitimate retail outlets like Overstock. "This is a digital
currency created by the people for the people and what people do
with it has the same consequences and responsibilities that they
would have for the American dollar," he told the Huffington Post.
"This is about giving people a currency choice that protects them
from anyone who shouldn't be looking into what they are spending
money on in their private lives."

Perhaps surprisingly, DopeCoin is already accepted at four
stores: "Two brick-and-mortar businesses in Europe and two online
merchants in the U.S."

Cryptocurrencies can solve some big problems for marijuana
dispensaries that are legal at the state level, but federally
illegal:

Because federal law still considers marijuana illegal,
traditional banks have shunned the businesses, leaving them
unable to accept credit cards or open simple checking accounts.
Without secure options, the businesses are largely forced into
cash-only transactions, risking safety and raising tax and
employee payroll issues.